Karat Packaging Inc. (NASDAQ:KRT) Receives $36.50 Average PT from Analysts

Karat Packaging Inc. (NASDAQ:KRT) has been given a consensus rating of “Hold” by the six ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $36.50.

Several research firms recently commented on KRT. Wall Street Zen lowered Karat Packaging from a “buy” rating to a “hold” rating in a report on Saturday. Lake Street Capital reissued a “buy” rating and issued a $39.00 price target on shares of Karat Packaging in a report on Friday, May 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Karat Packaging in a research report on Thursday, June 11th. The Goldman Sachs Group cut shares of Karat Packaging to a “neutral” rating in a research note on Thursday, June 4th. Finally, Bank of America raised their price objective on shares of Karat Packaging from $23.00 to $34.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 14th.

Karat Packaging Price Performance

NASDAQ:KRT opened at $39.52 on Thursday. Karat Packaging has a one year low of $20.61 and a one year high of $39.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.15 and a current ratio of 2.29. The firm has a market cap of $788.82 million, a price-to-earnings ratio of 25.01, a PEG ratio of 1.71 and a beta of 0.85. The firm’s fifty day moving average is $31.46 and its two-hundred day moving average is $28.15.

Karat Packaging (NASDAQ:KRT) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. The company had revenue of $116.95 million for the quarter, compared to the consensus estimate of $112.98 million. Karat Packaging had a return on equity of 19.87% and a net margin of 6.61%. Research analysts expect that Karat Packaging will post 1.78 EPS for the current year.

Karat Packaging Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 21st were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $1.80 dividend on an annualized basis and a yield of 4.6%. Karat Packaging’s dividend payout ratio is 113.92%.

Institutional Trading of Karat Packaging

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clearstead Advisors LLC raised its position in shares of Karat Packaging by 188.8% in the fourth quarter. Clearstead Advisors LLC now owns 1,493 shares of the company’s stock worth $34,000 after acquiring an additional 976 shares during the period. CWM LLC grew its position in shares of Karat Packaging by 61.5% during the 4th quarter. CWM LLC now owns 2,651 shares of the company’s stock valued at $60,000 after acquiring an additional 1,010 shares during the period. Quarry LP acquired a new stake in shares of Karat Packaging during the 3rd quarter valued at about $70,000. Deutsche Bank AG grew its position in shares of Karat Packaging by 142.8% during the 4th quarter. Deutsche Bank AG now owns 3,861 shares of the company’s stock valued at $87,000 after acquiring an additional 2,271 shares during the period. Finally, State of Wyoming purchased a new position in shares of Karat Packaging in the 4th quarter valued at about $122,000. Institutional investors and hedge funds own 25.20% of the company’s stock.

About Karat Packaging

Karat Packaging Technologies, Inc (NASDAQ: KRT) is a U.S.-based provider of premium packaging solutions for consumer goods and industrial products. The company specializes in the design, manufacture and delivery of high-quality litho-laminated folding cartons, tubes and flexible packaging. Karat Packaging operates an integrated production model that combines prepress, printing, converting and finishing capabilities to support the branding and shelf-appeal needs of its customers.

The company serves a diverse range of end markets, including food and beverage, confectionery, health and beauty, pharmaceuticals, specialty chemicals and promotional packaging.